Mitt Romney may have breached ethics laws through company linked to Paul Ryan's brother, who worked at Bain Capital


Lucky us, we get a twofer! First, there were possible ethics violations for then-Governor Willard Romney, and then the bonus that Paul Ryan's very own brother worked at Bain Capital. Who could ask for more?

Via The Telegraph, not exactly a liberal publication:

Mitt Romney may have breached state ethics laws as Governor of Massachusetts by holding a stake in a company that did lucrative work for his administration and was linked to the family of Paul Ryan, a Daily Telegraph investigation has found.

The Republican presidential candidate appears to have profited from a marketing company that was contracted by the state of Massachusetts after receiving $5 million (£3.2 million) in financial backing from Bain Capital, Mr Romney’s investment firm.

One of his vice-presidential candidate's brothers, who is a former Bain consultant, was at the time of the investment a senior executive at the marketing company, Imagitas, which was co-founded by another former Bain executive.

Both Mr Romney and Tobin Ryan, who omits his work at Imagitas from his corporate biography, also apparently stood to benefit from the $230 million (£146 million) sale of the company in 2005, while Mr Romney remained in office.

Oopsy daisy there, Romney-Other Ryan. According to Massachusetts law, all state employees must dump any financial interests in private sector contracts with state agencies. If they don't, they can be fined $2,000 or be sentenced to 2 1/2 years in prison. These days, the punishment could be even worse, per The Telegraph.

Of course, Willard and Bain refused to comment about the matter, as did the Ryans. Quel surprise. This from the people who want us to "just trust them."

As the article points out, there are "previously unnoticed connections between Mr Romney’s involvement in the private sector, government and campaign finance" which, at least IMHO, should create even more interest in those pesky tax returns he's so desperate to keep from us so we can see what else we've been missing out on.

As Melanie Sloan of Citizens for Responsibility and Ethics in Washington suggests, "he should have disclosed his stake in a company that stood to gain from its work for his administration.”

Victor Fleischer, a law professor at the University of Colorado specialising in private equity, said it was “possible but unlikely” that Mr Romney could have completely prevented himself from benefiting from Imagitas.

"This highlights the problems for voters with the lack of detail that has been disclosed about what was and is in Mr Romney’s Bain holdings,” said Prof Fleischer.[...]

Spokesmen for Mr Romney repeatedly declined to confirm or deny that he had profited from the sale of Imagitas, or to answer a series of detailed questions about his financial connections to the firm lodged by The Daily Telegraph earlier this week. “You’ve seen his disclosure forms - you know what’s on them,” one campaign source said.

Well now, he/she sure told them! With a disdainful wave of the hand and a nose in the air, he/she dismissed any questions with the usual stock answer: It's in the forms (no it isn't) and that's all you're gonna get from us (not if we can help it).

You know who else profited? The Carlyle Group, the group with major links to the GOP, the group that, according to Wiki:

... has been profiled in two notable documentaries, Michael Moore's Fahrenheit 911 and William Karel's The World According to Bush.

In Fahrenheit 911, Moore makes nine allegations concerning the Carlyle Group, including: That the Bin Laden and Bush families were both connected to the Group; that following the attacks on September 11, the bin Laden family’s investments in the Carlyle Group became an embarrassment to the Carlyle Group and the family was forced to liquidate their assets with the firm; that the Carlyle group was, in essence, the 11th largest defense contractor in the United States.[37] Moore focused on Carlyle's connections with George H. W. Bush and his Secretary of State James A. Baker III, both of whom had at times served as advisers to the firm.

Please read the whole article here, it's lengthy and chock full o' details.

  • What a BS again these politicians and journalists are saying about Ryan's brother who worked with Bains? What about the ethics? All politicians and quite a number of journalists  have no ethics anyway! They confuse the electorate by bringing out anything, true or false, about anybody. What is this? Writing contest, too?  Wise up America! Use your head in voting... you do not assign the fault of a kin to the politician. First, listen and analyze what one news is all about and if you want to participate in a FAIR and JUST  government, just follow your conscience. Satisfied with the Obama administration?... go ahead, reelect him! Want to try something else? You have no other choice but Romney-Ryan. You have no comparison of fairness and justice between the ONLY 2 tickets unless you try and give each a chance. Nothing has come out good of Obama's policies, so why not give Romney a chance to exhibit the expertise his followers are talking about, putting aside what his runningmate's brother went through with Bains. Is there any evidence of the "broken ethics"? Don't be a plain "NODDER" to what you hear or read for anyone, of unknown reasons can just manufacture anything to exalt or destroy another!

  • wildwildwest

    How long will it take? How much more will the Republicons refuse to hear? The low-information voters are such gullible creatures, ever so easy to convince to vote against their own best interests.

  • ghhshirley

     No, this story has just emerged and it has NOT been proven false by anyone.

  • It may be a lie Debra but what's Romney/Ryans excuse for the lies the spew.